At the headquarters of Parmalat in Collecchio (Parma), top management was desperately trying to save the group, talks cash infusion of three billion euros LBO funds, Blackstone and KKR, and the hand of the investment bank Deutsche Bank. In late 2003, the group Parmalat was the eighth-largest industrial group in Italy, and perhaps one of the most international. With more than 37,000 employees and 139 manufacturing sites in 30 countries on all five continents and revenues exceeding 7.6 billion euros at the end of 2002, EBIT of about € 600 million and a market capitalization of 2.3 billion euros, Parmalat was one of the the largest food processing companies in the world and a recognized leader in the UHT (Ultra High Temperature) milk production. Prior to that time, very few analysts doubt provided the financial stability of the group, and no one could imagine the size of the financial problems that will soon be found. "Hide
by Josep Tapies, Francesca Toninato Source: IESE 35 pages. Publication Date: April 7, 2005. Prod. #: IES119-PDF-ENG
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